Brookstone Capital Management Has $2.44 Million Position in Medtronic plc (NYSE:MDT)

Brookstone Capital Management increased its holdings in shares of Medtronic plc (NYSE:MDTGet Rating) by 68.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 21,850 shares of the medical technology company’s stock after acquiring an additional 8,894 shares during the period. Brookstone Capital Management’s holdings in Medtronic were worth $2,437,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MDT. MFA Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $79,000. Chartwell Investment Partners LLC boosted its position in shares of Medtronic by 8.9% during the 3rd quarter. Chartwell Investment Partners LLC now owns 49,450 shares of the medical technology company’s stock valued at $6,199,000 after acquiring an additional 4,039 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Medtronic by 1,291.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 73,346 shares of the medical technology company’s stock valued at $695,000 after acquiring an additional 68,075 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Medtronic by 10.6% during the 3rd quarter. Cetera Advisor Networks LLC now owns 70,463 shares of the medical technology company’s stock valued at $8,833,000 after acquiring an additional 6,771 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of Medtronic by 10.5% during the 3rd quarter. Cetera Advisors LLC now owns 34,673 shares of the medical technology company’s stock valued at $4,346,000 after acquiring an additional 3,289 shares in the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.

MDT opened at $89.25 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.49. The company has a market cap of $119.73 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. The firm has a 50 day simple moving average of $100.73 and a 200 day simple moving average of $104.38. Medtronic plc has a fifty-two week low of $86.95 and a fifty-two week high of $135.89.

Medtronic (NYSE:MDTGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $8.43 billion. Medtronic had a return on equity of 14.50% and a net margin of 15.90%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. As a group, analysts expect that Medtronic plc will post 5.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, June 23rd. This is an increase from Medtronic’s previous quarterly dividend of $0.63. Medtronic’s dividend payout ratio is presently 67.56%.

A number of equities analysts have commented on MDT shares. Atlantic Securities lowered shares of Medtronic from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $105.00 in a research report on Wednesday, June 1st. Cowen set a $125.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research report on Monday, May 23rd. Bank of America started coverage on shares of Medtronic in a research report on Tuesday, March 1st. They issued a “buy” rating on the stock. Morgan Stanley reduced their price target on shares of Medtronic from $115.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 7th. Finally, Truist Financial reduced their price target on shares of Medtronic from $121.00 to $111.00 and set a “hold” rating on the stock in a research report on Friday, May 27th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.55.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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